A former Merrill Lynch team managing approximately $500 million in client assets has partnered with Sanctuary Wealth to go independent as Ausperity Private Wealth in Moorestown, N.J., the companies announced in a news release.

Previously known as The O’Hara Group at Merrill Lynch Wealth Management, the four-member team led by co-founder and senior managing partner Robert “Rory” O’Hara also includes co-founder and senior managing partner Shane Fox; co-founder and senior managing partner Geoff Degener; and co-founder and senior relationship manager Jennifer Fisher. 

Each of the four partners are under age 40. O’Hara joined Merrill Lynch out of Villanova University in 2007, rising to the position of wealth management advisor, senior vice president. Degener joined the practice in 2013, followed by Fox in 2014 and Fisher in 2016.

“We knew that in going independent, it would be much better for our clients if we did it with a partner,” O’Hara said in the news release. “We conducted about two years of due diligence before we decided that Sanctuary s the best fit for our team. We wanted access to a broader marketplace from an investmejt perspective, best of breed technology, marketing expertise, more freedom and control over the decisioms affecting our business and Sanctuary gave us all that.”

Sanctuary CEO and founder Jim Dickson said in the news release that Ausperity Private Wealth is the second New Jersey team to join the company and the tenth next-gen team to join Sanctuary in the past 12 months.

Based in Indianapolis, Sanctuary Wealth provides a support platform for breakaway advisors located in 20 states. The firm currently has more than $17 billion in assets under advisement.